What is public property in Vietnam?

Public property is property under public ownership and managed by the State of Vietnam.

Public property is defined in two recently enacted laws which are the Law on Management and Use of Public Property 2017 of Vietnam and the Law on State Audit Office of Vietnam 2015. Public property can be understood as follows:

“Public property” (or formerly known as State property) is property under public ownership and managed by the State.

This descriptive definition of public property was first stated in the Law on Management and Use of Public Property 2017 of Vietnam. The Law on State Audit Office of Vietnam 2015 only defines public property by listing what types of assets are public property.

Below is a comparison table of public assets in the Law on Management and Use of Public Property 2017 of Vietnam and the Law on State Audit Office of Vietnam 2015:

 

Law on Management and Use of Public Property 2017

Law on State Audit Office of Vietnam 2015

Descriptive definition

Public property is property under public ownership and managed by the State of Vietnam

No

Types

- Public property serving management, provision of public services, maintenance of national security for organizations and individuals;

- Infrastructural property serving national and public interests;

- Property established under public ownership;

- Public property of enterprise;

- Money in state budget, non-state budget financial funds, foreign exchange reserves;

- Land and other resources

- Land; water resources, mineral resources; resources in territorial waters and airspace; other natural resources;

- State-owned property at regulatory agencies, the army, public service agencies, political organizations, socio-political organizations, socio-political-professional organizations,  social organizations, socio-professional organizations;

- Public property allocated to enterprises;

- State property for reserve; 

- Property classified as infrastructure serving public interests;

- Other types of property under the ownership of the whole people and represented, managed by the State.

Legal basis

Clause 1 Article 3 of the Law on Management and Use of Public Property 2017

Clause 11 Article 3 of the Law on State Audit Office of Vietnam 2015

Effective date

January 01, 2018

January 01, 2016

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

150 lượt xem



  • Address: 19 Nguyen Gia Thieu, Vo Thi Sau Ward, District 3, Ho Chi Minh City
    Phone: (028) 7302 2286
    E-mail: info@lawnet.vn
Parent company: THU VIEN PHAP LUAT Ltd.
Editorial Director: Mr. Bui Tuong Vu - Tel. 028 3935 2079
P.702A , Centre Point, 106 Nguyen Van Troi, Ward 8, Phu Nhuan District, HCM City;